Amaravati: Yanamala Ramakrishnudu flays government for giving priority to non-productive sectors

Yanamala Ramakrishnudu
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TDP leader Yanamala Ramakrishnudu
Highlights

Points out that there has been steep fall in revenue generation Revenue deficit increased from `41,000 cr to ` 70,000 cr within one year Govt has cut capital expenditure by 50 per cent

Amaravati: Chief Minister Y S Jagan Mohan Reddy's retrogressive policies have paralysed the State revenues for the last one year, lambasted former Finance Minister and senior TDP leader Yanamala Ramakrishnudu on Sunday.

In a press release, he said that there has been a decline of 50 per cent in the State's revenue. The TDP leader slammed the State government for increasing revenue deficit from Rs 41,000 crore to Rs. 70,000 crore within a year. Pointing out that the government has attributed the decrease in revenue to coronavirus lockdown, he said that its impact was there only on the last nine days of the financial year 2019-20. Ramakrishnudu said that the deficit in revenue was leading to nill development and consequential loss of work and employment opportunities for different sections of people in the State.

He said that the government cut crucial capital expenditure by 50 per cent. Ramakrishnudu deplored that the government hiked borrowings by 135 per cent while it was just 30.70 per cent under TDP. Excluding borrowings, revenue receipts came down to Rs 86,000 crore.

Due to reduced capital expenditure, overall development took a backseat. In addition to that the remaining small quantum of revenue was misused without focusing on wealth creation, he added. Priority was given to non-productive sectors, he criticised.

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